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By · February 03, 2021
3 minute read

Customer news: CEC Bank launches 100% digital personal loans

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Online personal loans are a major step in the bank’s digital transformation journey.

CEC Bank, the top universal bank in Romania, has launched a 100% online personal loan offering available through its CEC_IN platform – the virtual store of CEC Bank. Now customers can access personal loans up to the value of 90,000 Lei (€18,487) in just a few minutes from their computer, phone or tablet, without the need to visit the bank.

Within the platform, a number of innovative technologies are used such as automatic data recognition, their automatic retrieval in systems and facial recognition, as well as an automatic analysis and decision module to ensure 100% digital delivery.

“Nowadays, we watch movies online, we shop online, we can order a taxi or book our vacation online. In banking, we need to offer customers an equally good digital experience,” said Bogdan Neacșu, General Manager of CEC Bank. “The launch of online consumer credit follows the launch of online accounts and CEC Bank’s wider process of transformation and modernisation. We plan to bring more banking products and services into the digital arena, with the SME segment our next area of focus,” concluded Neacșu.

A strategic partnership

In March 2020, Deloitte and FintechOS created and implemented the technical solution for the “Welcome” package, which CEC Bank integrated with its legacy systems. The package could be accessed 100% online and included a current account, a debit card and access to the Mobile Banking service.

That was among the first projects finalized within the strategic partnership with Deloitte for providing solutions for digital transformation and business process automation to financial institutions.

How do you deliver 100% digital loans?

The online personal loan is granted on the basis of a simplified flow that lasts only a few minutes. Here is how it works:

  • The customer selects the desired loan amount and provides information regarding the financial situation and professional status as well as providing identification data.
  • The customer is contacted by video call to check and confirm the information entered is correct.
  • The verification of eligibility, including credit history checks and revenue interrogation with ANAF (The National Agency for Fiscal Administration), is performed automatically.
  • If approved, the contract is generated on the spot and is signed using digital signatures.
  • After signing the contract, the amount is transferred to the customers’ CEC Bank current account.
  • For new customers, the bank offers a current account package called “Welcome” which also allows for the loan to be granted 100% online, without any trips to the bank.
  • The “Welcome” package includes a current account in Lei, a Visa debit card in the same currency and access to CEC Bank Mobile Banking.


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